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May 30, 2024

Bears' Kevin Warren: Legislative Cold Shoulder Won't Stop Team From 'Pushing Forward' On New Digs

Chicago Bears President Kevin Warren told Bisnow the team plans to continue its pursuit of a new stadium on the lakefront despite a seemingly limited appetite from the governor and Illinois lawmakers for publicly financed stadiums. 

Bears' Kevin Warren: Legislative Cold Shoulder Won't Stop Team From 'Pushing Forward' On New Digs

Illinois lawmakers' spring legislative session came and went without the body taking up a stadium financing proposal. The Bears have proposed a mixed-use stadium project with a $4.7B all-in cost that would be partially financed by taxpayer dollars.Warren said negotiating with lawmakers comes with the territory.“It’s just a part of…

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WeWork Secures Final Approval To Emerge From Bankruptcy

Break out the on-tap kombucha; WeWork is getting out of bankruptcy. 

WeWork Secures Final Approval To Emerge From Bankruptcy

The beleaguered coworking giant's new era as a privately owned, debt-free company can begin after a Thursday morning hearing in a federal courthouse in New Jersey, during which a judge confirmed WeWork’s plan to emerge from bankruptcy.With the restructuring plan approved unanimously by the company's…

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As Housing Crisis Gains National Attention, Real Estate Lobbies Look To D.C.

As Housing Crisis Gains National Attention, Real Estate Lobbies Look To D.C.  

A deepening housing crisis has lifted issues relating to housing regulation and development to the federal government's attention in a way not seen for decades. From little-known policy moves to nationally televised speeches, housing is top-of-mind for politicians all over Capitol Hill. 

Lobbying groups representing both sides of the housing issue, property owners and tenants, have scaled up their efforts, ramped up their budgets and honed in on policy changes coming as the nation reorients following the pandemic.

“The Biden administration, and then Congress, during Covid took a much more hands-on approach to thinking about the rental market and the challenges faced by low-income homeowners,” said Shamus Roller, executive director of the National Housing Law Project. “I imagine that there are parts of the real estate industry paying attention to that kind of involvement from the administrative state and Congress and thinking about these issues, so it's not surprising that they might decide to weigh in a little bit more heavily.” 

While the industry’s focus on the federal level used to be around strictly tax issues, housing policy now spans many more parts of the federal bureaucracy. The Biden administration’s  Renter’s Bill of Rights proposal from January 2023 included more than 24 commitments from eight different agencies.  As the…

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Data Centers Projected To Consume Over 6% Of All U.S. Electricity By 2028

Data Centers Projected To Consume Over 6% Of All U.S. Electricity By 2028  

Data centers’ share of U.S. energy consumption is on pace to quadruple between 2018 and 2028, according to a report released Tuesday by investment bank TD Cowen.

The surge in electricity demand has major data center markets on the verge of running out of reliable power — if they’re not tapped out already. 

Third-party data centers will represent 6.6% of electricity consumption in the U.S. by 2028, up from just 1.5% in 2018, according to TD Cowen. In 2023, data centers accounted for 2.3% of the country's electricity consumption.  The numbers reflect the data center industry’s rapidly escalating impact on regional power grids as…

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